The following are various cash flows and other information for Smyczek Company for 2016:
a. Payments of interest, $8,200
b. Receipt from sale of land, $7,900
c. Interest collected, $10,000
d. Payment of dividends, $12,100
e. Depreciation expense, $24,700
f. Collections from customers, $101,600
g. Payments of income taxes, $15,400
h. Receipt from issuance of stock, $18,900
i. Payments to suppliers and employees, $67,500
j. Increase in inventories, $4,600
Required:
Using the direct method, prepare the cash flows from operating activities section of Smyczek’s 2016 statement of cash flows.